TDS on advance payment to Contractors and Professionals
This query is : Resolved
santhosh natarajan
(Querist)
15 March 2024
Whether TDS needs to be deducted on advance payment made to Contractors and Professionals.
For eg) I paid 100% advance on 28th Jan for the services to be received on 15th Feb , Whether I should deduct TDS while making advance payment and remit the same to government before 7th Feb?
For eg) I paid 100% advance on 28th Jan for the services to be received on 15th Feb , Whether I should deduct TDS while making advance payment and remit the same to government before 7th Feb?
CA R SEETHARAMAN
(Expert)
15 March 2024
Yes, you should deduct TDS on advance payment and remit the same before 7th February.
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